OneAscent Financial Services LLC Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

OneAscent Financial Services LLC boosted its position in Medtronic plc (NYSE:MDT) by 15.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,070 shares of the medical technology company’s stock after purchasing an additional 410 shares during the period. OneAscent Financial Services LLC’s holdings in Medtronic were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Clearbridge Investments LLC lifted its holdings in Medtronic by 2.8% during the first quarter. Clearbridge Investments LLC now owns 595,995 shares of the medical technology company’s stock valued at $51,941,000 after purchasing an additional 16,105 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Medtronic in the 1st quarter worth approximately $498,000. National Bank of Canada FI grew its stake in Medtronic by 13.6% in the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after buying an additional 31,195 shares in the last quarter. InterOcean Capital Group LLC raised its holdings in Medtronic by 4.4% during the 1st quarter. InterOcean Capital Group LLC now owns 4,885 shares of the medical technology company’s stock valued at $426,000 after acquiring an additional 207 shares during the period. Finally, MQS Management LLC purchased a new stake in shares of Medtronic during the first quarter worth $503,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Down 2.9 %

Shares of MDT opened at $85.01 on Wednesday. The firm has a market cap of $109.02 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.50 and a beta of 0.84. Medtronic plc has a 1 year low of $74.66 and a 1 year high of $92.68. The stock has a 50 day simple moving average of $89.30 and a two-hundred day simple moving average of $84.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. On average, analysts forecast that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on MDT shares. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and raised their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Truist Financial upped their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.80.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.